Real Estate Math
A Washington buyer puts 5% down on a $410,000 home. The lender charges 0.8% monthly PMI on the loan. What is the monthly PMI amount?
A$259.33✓ Correct
B$260.08
C$328.00
D$410.00
Explanation
Loan = $410,000 × 95% = $389,500. Monthly PMI = $389,500 × 0.
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